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MY Jib economy

How is Rakyat coping up in the present and future economic danger?

I just went around several Tesco outlets to shop for some turkey and found it is not that vibrant as before. In fact, most of the Tesco space even in the HQ was downsized. Shah Alam to PJ outlets were quiet. And even the Mamak outlets facing lukewarm response during premier league matches. And this is December where it is considered as festive month.

The worst performing sector could be automobile where Proton is having sales with 50% discount for Exora ( though it was said that it is for vendor and staff of saudara saudari Proton where the car sold cannot be resold for 1 year of ownership. )

Otherwise it could be housing factor. It is an issue of not having enough income and houses being too expensive to put the roof over MY heads.

In BNM’s 2016 Annual Report released in March this year, financial simulations showed that those earning less than RM3,000 could only finance a home worth less than 200k, while those earning RM5,000 and below could afford up to 300K and those earning RM10,000 and below, 500K.

The Bank Negara said in a report that the slower rise in household incomes relative to house prices is also adding to the problem.

Household income has not moved up in tandem with the overall living costs. In fact durian is out of reach for some working Malaysians and jib jib fishes like Ikan Kembong are too deep in the pocket for some families to fry it out with cooking oil in more than 10% increased pricing. Bread and butter is not jib either. Flour prices went up and butter cost more since the depreciated ringgit.

The report further emphasised that almost tiga suku of the current supply of houses for sale in the country were not affordable.

A more startling fact is that 89 per cent of the working population earn less than RM5,000 a month, according to the Employees Provident Fund (EPF).

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
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so what are you doing about it? That I mean by doing something that can make a difference, that can effect a rippling change perhaps?

in luv with bikes...in lust with AphroditeSAWAS!Suspek is an Avid procurer to myths, lies, legends, folklores, i-ching, rumors, misinformation, cakap-ayam, spɹoʍ uʍop ǝpısdn puɐ˙˙DLL .p/s Take all the above with a XL salted duck egg, wash down with 2fingers of sodium hypochoride, and suck on to a pebble size tmn negara Rock salt

The crux of the problem is the low wages and the increase of wages cannot catch up with increase of price.

The root to the low wages is the official figure of low inflation rate because salary increment (to a large extent) either public or private will refer to the rate of incremental living cost as guideline to salary increment.

The compounded impact of artificially low inflation rate that have been around for more than 50 years have caused irrevocable damage to the real wages and hence people will feel “money not enough” when subsidies on essential items like sugar, flour, fuel, etc have been removed or partially removed.

...A more startling fact is that 89 per cent of the working population earn less than RM5,000 a month, according to the Employees Provident Fund (EPF).

Apart from the historical reason as explained on post #3, here is another reason why...

Originally Posted by opulant

....I went to putarjaya relatively frequent and often have a chance to look at the way some of these "beyond pen pusher" wasting my tax money. I would say they are grossly overpaid... Many of these "beyond pen pusher" are earning in the range of less than RM1500/month, the fair wages should be less than RM500 because ONE hardworking foreigner can do 2 or maybe 3 of their work.

I have nothing but respect for hardworking people - be it a cab driver, a wantan mee hawker, a plumber, a cleaner, etc, etc who work hard for a living. Most of these people cannot catch up with the increase of living costs.

These are the people who are being marganilized although they work harder than many people. They don't have annual bonus or incentive reward (those "pen-pusher" will be given 2-3 months bonus by your 1gomen and the state gomen including the penang and selangor state gomen because of the coming erection). These hardworking people don't have anything - no medical benefits, no Epf and likely cannot access to many freebie like the br1m, Kr1m, xx1m...

Those who earn little salary because they want an easy job inside an air-cond premise with tea time from 9-10am and second round tea time from 3-4pm, on top of the long lunch time, abundant holidays, plus occasionally family day, big makan day, etc, etc.. This is their choice but don't expect others owe them a living.

For discussion purposes, I would like to propose 2 additional reasons for the low wages in Malaysia. These so happen to be the two that I can think of now.

Firstly is the influx of cheap foreign labor at blue collar segments. Many people doesn't realize that wages and quality of living to a large extend is a relative thing. If say a janitor is paid 10K rm per month, do u think a graduate working in a engineering firm would be paid 2.5K rm?

Secondly is the unnoticed subsidies provided by parents to fresh grads. A fresh grad joining a certain bank gets paid 2.6K rm per month. When I asked him how he come to work, he told me that he drives a Z4. Even his backup car (cos the Z4 broke down) is his mother's old 5 series.

Maybe thirdly is that Malaysian bosses are selfish and greedy. They dare to say in front of everyone that why should they pay 5K rm for a fresh grad from a reputable university when they can hire someone else without a degree but worked for 4 years for 2K rm? (sorry, i know this may not be a good argument, but seriously, if tertiary education is really that useless, why do these bosses insist their kids must attend top schools?)

so what are you doing about it? That I mean by doing something that can make a difference, that can effect a rippling change perhaps?

I can only makes a small dent by cooking stories like this. My vote for a leadership that is from the people to the people is another microwave which is able to transformasi segi ekonomi like China or Korea which rises like flying phoenix from ash burning ashes.

Rippling effect? I dunnolah. As for the future leadership from wannabe leaders of the country and economy, do you know that Pro Bee End college kiddies swept the election at the college level in this year election from MU to UM? They seem to support to make Amerika Syarikat great again with Jib economy while having the University education budget to hospital medical supplies potong saga.

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
[COLOR=Navy]Let's eat 2 taste in www.facebook.com/zinglicious or let's make MY home a better place with healthy views and tasty news in www.facebook.com/zingszangs

Employees were encouraged to go on unpaid "career break leave" of six months to a year, or work half a month for half pay in the Media Prima which recycle cinema yesteryear shows to printing toilet newspapers. The media conglomerate Gomen GLC introduced a voluntary separation scheme for employees above the age of 50 to cut operational costs earlier this year.

Earlier this year, the media conglomerate introduced a voluntary separation scheme for employees above the age of 50 to cut operational costs. made a loss of RM101mil in the third quarter ended Sept 30, as revenue dropped to RM288.5mil amid declining trend of core advertising revenue.

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
[COLOR=Navy]Let's eat 2 taste in www.facebook.com/zinglicious or let's make MY home a better place with healthy views and tasty news in www.facebook.com/zingszangs

Don’t know about other firms, but my employer has many zombies and vampires around. Half are the elderly who should just retire but still holding on to their pay without doing anything, whilst others been thriving without doing any work since day 1.

Self declaration, unfortunately due to the zombies, I am turning into one.

I rather my employer would give out VSS and start the slate clean. The economy and the firm would be better off.

Economy is a scientific and professional field that should not be distorted by an individual's personal feelings or liking. To get an accurate picture of of economy, one must look at it more impartially ..

One reason we don't have enough money is because expectations from life have been rising. The more we expect from life, the more $$$ we would need to get for ourselves. I think the question is what kind of life one is looking for, and whether one is capable to create more wealth and opportunities to meet the expectations.

MY economy does not reflect the reality of present decent lifestyle of Malaysians. Unless one who lives in the bunker with 6 in 1 room, working 7 days a week like the foreign workers monthly income of Rm 2,000 is more than enough.

The rate of RM 2,000 for graduate in most job entry was one decade ago but since have had been stuck at thereabout that level. But the cost of living from Telur Ayam to Ikan Kembung has rising almost double or triple. In the year 2000, roti canai was 60 puluh sens now it is RM1.20. Cost of a condo was Rm150K but now RM350K for apartment. LDP toll was Rm1.00 , sekarang Rm2.10.

And for those who wants a luxurious lifestyle, it is a different cerita. However, they are those with the bracket of RM10,000 might not be enough for moderate comfortable lifestyle if we take into account of Rm1 million housing installment, Toyota Vios hire purchase, Kiddies day care, Makan sekeluarga rumah atau diluar, baju serta seluar tahun baru dan lain lain lagi from shopping to maid salary. They would go economy rice unless can claim under company expenses entertaining thier clients at Old town kopitiam. Pelik tapi benar, my friends have to survive on credit cards where they can settle it with thier year end company bonus skim.

Back in the 80's when I was earning Rm3 K, I could drink all day and party all night long all with cool cash. I would drive all the way from Ipoh to KL and the toll only cost me less than Rm20. I think my Volvo 240GL full tank only cost me Rm60 to top up.

The only thing that was expensive was the blardy Nokia phone. Lost it in 2 weeks when I drove away on my car top. It was RM5,000 gone with the wind. Now a smart phone only cost Rm500.

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
[COLOR=Navy]Let's eat 2 taste in www.facebook.com/zinglicious or let's make MY home a better place with healthy views and tasty news in www.facebook.com/zingszangs

Zing, now everyday you complain,"apa lu mau". Reading from your post ,everything in Malaysia is not in condition and i suspect you earn 6 figure driving UBER as a 5 Star driver. Life is what you want ? Got credit card spend spend spend, bill comes blame gomen. If not mistaken the chinese newspaper sunday column about chinese in Malaysia,90% hold passport, go travel overseas every year,drink gourmet coffee,eat at the latest resturant no complain, petrol gone up 2 sen blame gomen #$%$#@,. In life i see what i want in life that's all,

Your suspicious mind is way off target. My 5 stars Uber driving in my HRV doesnt give me the figure of 5 figures. Just enough to buy roti canai in my spare time of driving whenever my moods takes me. heck in fact, this week I am only driving 3 hours to date. Last week also didnt drive for 3 days.

Even if the driver drives full time, the average drivers makes less than Rm20 an hour. Cruising 10 hours at Rm200 with taking in consideration of petrol, tyres, servicing and car depreciation.....you do the maths and kira kira whether it is worth to break your backside. No public holidays, no annual leave no MC, no EPF, semua tanggung sendiri.

My income comes from year end Christmas turkeys or Chinese new year baked Ayam but profit taking a dip with rising cost of these birdies. Even the buffet parties for the rich and famous at Desa Parkcity also taking a dip.

I am not complaining but cooking the stories from all walk of life especially when I talked to riders and look around the market with soaring prices with Jib economy. Not every Chinese have passport to fly over the seas and have credit cards to do shopping. In fact, less than 20% of Uber riders paid fares via credit card. either the credit card been frozen or credit limited.

You should have seen the present Q where Rakyat goes to seek treatment in Gomen hospitals.

Now this is the food for thought......

Taiwan, lacked natural resources, yet Taiwan had USD447.79 billion of foreign exchange reserve as at October 2017. Compare and contrast with Malaysia, which has abundance of natural resources, only has USD102.39 billion, during the same period. Pelik tapi benar, how many foreign workers work in Taiwan? Do you see them like in Mydin cashier counter, Petrol Pump or Kopitiam near you?

And the question is how long can the MY reserves last with Petronas or Potong saga?

Last edited by zinglicious; 20-12-2017 at 02:04 PM.

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
[COLOR=Navy]Let's eat 2 taste in www.facebook.com/zinglicious or let's make MY home a better place with healthy views and tasty news in www.facebook.com/zingszangs

Zing, UBER /GRAB drivers want to work in their own time aka own boss of course no EPF,SOCSO annual leave etc.Like you loaded this week drive only 3 hours and last week only 3 days. like i say before ,"apa lu mau ". My young days life i work hard, very hard and honest, after so many years i do my own business with the same style i apply when i was working , i manage to send my daugter to study oversea costing me RM15K per month, Next month i am paying a visit to Pope Francis in Vatican City."ini saya mau"

iSayman....you still dun get it. You will not make money even if you drive 24/7 being Ublurred driver. You are a contractor to the Uber system. Being your boss to determine your time to drive whenever you like yes.....but you could get banned with low ratings. No way, any driver can make 5 to 6 figures. The most is 4 ekor nombor.

TASK - Trust, Attitude, Skill, Knowledge - Signatures of those who believe in excellence for any task entrusted to them - Alwin Tan @ all rights reserved
[COLOR=Navy]Let's eat 2 taste in www.facebook.com/zinglicious or let's make MY home a better place with healthy views and tasty news in www.facebook.com/zingszangs